The Emerging Africa Group has launched its Africa Capital Markets Report identifying technology, media and communication as sectors that will attract new investments in 2022.
According to the report Technology, Media and Communication sector was particularly active across the continent in the year 2021 and this trend is likely to continue through 2022.
It also notes that the Energy sector in South Africa, Construction in Egypt, Affordable Housing and Tech in Kenya, Nigeria and Ghana are also key spaces to watch in the New Year.
The report, which covered 18 African countries, namely: Nigeria, Ghana, Cote d’Ivoire, Mali, Senegal, Togo, Burkina Faso and Niger, Uganda, Rwanda, Kenya, Tanzania, Botswana, South Africa, Egypt, Morocco, Tunisia and Mauritius identified opportunities in each of the countries.
While identifying key investment opportunities for existing and potential stakeholders, the report reviewed the Macro-Economic environment and activities of key Capital Markets across Africa for the previous year 2021, and presents Economic Outlook for year 2022,
Speaking at the launch ceremony, which took place in Lagos, Toyin F. Sanni, group chief executive officer, Emerging Africa Group (EAG), expressed delight at the launch of the report.
According to her, “It is a great delight today for Emerging Africa Group to launch the first of its kind Africa Capital Markets Report. We have nursed this vision for about a year and are happy to finally bring it to birth. As you know, we aspire to be the leading catalyst for Africa’s emergence as a key global investment origin and destination.
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“We want to be, as it were, in the forefront of catalyzing the development of these economies. And in this report, we have x-rayed the top 18 capital markets in Africa, showcased the opportunities that these markets offer for investments and for investors and hopefully, would be in the position to handle and guide potential investors both within the continent and outside the continent to invest in these markets”.
She said, “capital market access is key to economic and industrial growth, making countries less dependent on donor aid and loans from foreign governments to finance investment and expenditures.”
The Group CEO stated “Africa Capital Market activities picked up significantly in year 2021 and look poised to do even better in 2022, creating opportunities and attractive returns for investors.
On how the Group can help in driving the African Continental Free Trade Area (AfCFTA), she said “We need to provide the infrastructure that is required to support more African countries to trade with one another within the continent, and I’m sure we are all aware of the challenges of travel being faced within Africa; as well as challenges of changing money across various currencies, and multiple jurisdictions which has been addressed by AfCFTA. I’m also aware of the settlement initiative that is led by Afreximbank, which will help us to settle transactions across the region in whichever currency and these are the type of moves that need to be made.”
“Access to finance and access to power challenges”, she said, remain across the continent, adding that there is need for more social investment across the continent and “These are some of the issues that need to be addressed for AfCFTA to succeed in its goals,” she said.
Virtually present at the launch was the chairperson Emerging Africa Group, Nike Onikepo Akande, who thanked the Group CEO, Toyin F. Sanni, for her exceptional leadership and a job well done for an exceptionally well-detailed report.
Adaku Ijara, managing director, Emerging Africa Asset Management Limited (EAAML), in her remarks, also said that the launch of the report came at the right time when the world is looking for investment opportunities in Africa via Africa Continental Free Trade Area (AfCFTA) even as she commended the research team for doing a good job.
“What we are witnessing this morning is a culmination of months of hard work by our crack research team. I am particularly excited this morning because this report represents for me, a coming into our own in terms of setting out as a group to be the leading catalyst to Africa emergence as a key global investment origin and destination.
Adaku who described the report as “a valuable resource for investors to enable them to identify where there is money in 2022,” also expressed confidence that the report will be well received in the market, as “a valuable resource for all key decision-makers in the continent.”
Discussing the report, Team Lead, Research, Emerging Africa Group, Tobi Bondefaiye-Owope, gave a brief insight into the challenges they faced while preparing the report.
According to him, it was very daunting when the idea of producing a report of this scale was proposed; particularly because of the size and countries mapped out for coverage and said “I’m sure by the time you go through the report you will see exactly what I mean”
